Currently the EURAUD is trading around 1.6759 levels. The paid has moved up significantly breaking through the confluence of the 50 DMA, 100 DMA & 200 DMA in the 1.625-1.64 reason. The reason for upswing in the pair is because of continued up move in EURUSD towards 1.09+ levels & consolidation in AUDUSD around .6511 levels. This behavior between EUR & AUD we believe is a trading opportunity because of our bearish views on EURUSD & neutral view on AUDUSD.
